Question 1

What is Apple's EV/EBITDA ratio?

Accepted Answer

Apple (AAPL) EV/EBITDA ratio is 28.4× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Apple?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Apple specifically, the relevant sector benchmark is the current sector median of 19.5×.

Question 5

Is Apple's EV/EBITDA ratio high or low?

Accepted Answer

Apple's EV/EBITDA ratio of 28.4× is above its own 5-year average of 22.4× and above the sector median of 19.5×. That places the current reading at the 95th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Apple's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Apple (AAPL) EV/EBITDA ratio has ranged from a low of 5.8× in 2002 to a high of 30.1× in 2025. The 5-year average is 22.4× and the 5-year median is 22.2×.

Question 7

What was Apple's EV/EBITDA ratio in 2025?

Accepted Answer

Apple (AAPL) EV/EBITDA ratio at the end of 2025 was 26.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Apple's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$3.82T	$144.43B	26.8×	+0.8×	Sep 27, 2025
2024	$3.46T	$134.93B	26.0×	+4.9×	Sep 28, 2024
2023	$2.67T	$129.19B	21.2×	+2.4×	Sep 30, 2023
2022	$2.41T	$133.14B	18.7×	-1.5×	Sep 24, 2022
2021	$2.42T	$123.14B	20.3×	-3.8×	Sep 25, 2021
2020	$1.92T	$81.02B	24.0×	+11.6×	Sep 26, 2020
2019	$1.01T	$81.86B	12.4×	-0.6×	Sep 28, 2019
2018	$1.08T	$87.05B	13.0×	+2.1×	Sep 29, 2018
2017	$793.63B	$76.57B	10.9×	+2.4×	Sep 30, 2017
2016	$604.96B	$73.33B	8.5×	+0.6×	Sep 24, 2016
2015	$650.66B	$84.50B	8.0×	-1.9×	Sep 26, 2015
2014	$597.89B	$61.81B	9.8×	+2.4×	Sep 27, 2014
2013	$446.68B	$57.05B	7.4×	-2.3×	Sep 28, 2013
2012	$603.29B	$58.89B	9.7×	-0.1×	Sep 29, 2012
2011	$375.32B	$35.60B	9.8×	-2.6×	Sep 24, 2011
2010	$267.34B	$19.41B	12.5×	-0.3×	Sep 25, 2010
2009	$163.69B	$10.98B	12.8×	-0.8×	Sep 26, 2009
2008	$113.76B	$6.75B	13.6×	-11.4×	Sep 27, 2008
2007	$133.63B	$4.73B	25.0×	+6.7×	Sep 29, 2007
2006	$65.75B	$3.04B	18.3×	-1.1×	Sep 30, 2006
2005	$43.70B	$1.83B	19.4×	+2.6×	Sep 24, 2005
2004	$14.30B	$528.00M	16.7×	+0.9×	Sep 25, 2004
2003	$7.49B	$204.00M	15.8×	+10.0×	Sep 27, 2003
2002	$5.28B	$215.00M	5.9×	—	Sep 28, 2002


Zebra Technologies (ZBRA)	12.6×
Micron Technology (MU)	12.5×
NXP Semiconductors (NXPI)	12.3×
Block (XYZ)	11.9×
Qorvo (QRVO)	11.3×
Broadridge Financial Solutions (BR)	11.1×
Adobe (ADBE)	10.9×
Super Micro Computer (SMCI)	10.8×
CDW (CDW)	10.8×
QUALCOMM (QCOM)	10.6×
Accenture (ACN)	10.5×
NetApp (NTAP)	10.5×
Amkor Technology (AMKR)	10.3×
GoDaddy (GDDY)	10.2×
Block (SQ)	10.0×
EPAM Systems (EPAM)	9.6×
Science Applications International (SAIC)	9.4×
Skyworks Solutions (SWKS)	9.2×
Corpay (CPAY)	8.5×
Paycom Software (PAYC)	8.2×
Gen Digital (GEN)	7.4×
Cognizant (CTSH)	7.2×
Fidelity National Information Services (FIS)	7.0×
Fiserv (FISV)	6.9×
HP (HPQ)	6.4×

EV/EBITDA for Apple (AAPL)

EV/EBITDA daily chart for Apple (AAPL)

Historical EV/EBITDA for Apple (AAPL) from 2002 to 2025

About EV/EBITDA at Apple (AAPL)

Apple EV/EBITDA by Year

Apple EV/EBITDA 2025: 26.8×

Apple EV/EBITDA 2024: 26.0×

Apple EV/EBITDA 2023: 21.2×

Apple EV/EBITDA 2022: 18.7×

Apple EV/EBITDA 2021: 20.3×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Apple (AAPL) Key Financials

EV/EBITDA daily chart for Apple (AAPL)

Historical EV/EBITDA for Apple (AAPL) from 2002 to 2025

About EV/EBITDA at Apple (AAPL)

Apple EV/EBITDA by Year

Apple EV/EBITDA 2025: 26.8×

Apple EV/EBITDA 2024: 26.0×

Apple EV/EBITDA 2023: 21.2×

Apple EV/EBITDA 2022: 18.7×

Apple EV/EBITDA 2021: 20.3×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Apple's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Apple?

+Is Apple's EV/EBITDA ratio high or low?

+What is Apple's historical EV/EBITDA ratio range?

+What was Apple's EV/EBITDA ratio in 2025?

+Why does Apple's EV/EBITDA ratio change over time?

Apple (AAPL) Key Financials